Le Lézard
Classified in: Transportation, Business
Subjects: SVY, ECO

Automotive Composites Market to Expect 6%+ Growth to 2024


SELBYVILLE, Del., Nov. 28, 2018 /PRNewswire-PRWeb/ -- Automotive composites market from compression is expected to dominate the revenue share surpassing USD 9 billion over the next eight years owing to high usage of this process in glass fiber composites. Moreover, this process is used for mass production of composites, further supporting the industry dominance.

RTM is likely to exhibit around 7% CAGR till 2024 owing to regular innovations in this process over the past years. Moreover, it is increasingly being used by the manufacturers to create low cost products, further propelling the industry growth.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/338

Automotive composites market size from exterior applications is slated to be around USD 9 billion by 2024, owing to the prominent use of composites for manufacturing external automotive parts. The increasing importance for light-weight exterior parts is also a contributing factor toward using natural fiber based composite materials for exterior parts.

Structural and powertrain application will exhibit around 7% CAGR owing to high usage of glass and carbon fibers in vehicle's structural components. Enhanced fuel efficiency is another factor supporting the industry growth over the coming years.

Automotive composites market from glass fiber accounted for over USD 9 billion in 2016 and is anticipated to continue its dominance over the forecast timeframe. The substantial revenue generation is attributed to its advantages over the counterparts such as higher strength, and resistance to heat & chemical attacks. Better thermal insulation is another factor supporting the industry dominance.

Natural fibers will exhibit over 7.5% CAGR from 2017 to 2024 owing to their high usage in exterior vehicle applications as a replacement of glass fibers. This shifting preference is attributable to its light weighing capabilities as compared to the counterparts.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/338

Thermoset resins are expected to generate a demand of over 2,500 kilo tons and capture over 55% of the automotive composites market revenue share till 2024. Ease of manufacturing and convenient impregnation of reinforced fibers will primarily drive the industry growth. Benefits such as resistance to high temperatures and corrosives & solvents, enhanced adhesion and finishing, and tailored elasticity will further support the revenue generation.

Thermoplastic resins are likely to witness over 6.5% CAGR owing to their rising adoption due to reforming abilities and higher impact resistance as compared to its counterpart.

Regionally, Asia Pacific will cover more than 45% share of automotive composites industry over the coming timeframe. The establishment of a strong automotive manufacturing base across this region is one of the primary factors contributing toward APAC automotive composites market size. China and India have been forecast to be Asia's prominent revenue pockets.

Europe will pose around 6% CAGR owing to extensive usage of composites due to stringent regulations regarding carbon emissions from vehicles. Rising R&D investments along with established automobile industry will further propel the regional growth ver the forecast timeframe.

Automotive composites market witnessing companies making long-term strategic deals to gain a competitive edge. Some of the prominent participants in the industry are DowAksa, Hexcel Corporation, SGL Group, ACP Composites, Owens Corning, Johns Manville Corporation, and Revchem Composites.

Browse key industry insights spread across 350 pages with 443 market data tables & 10 figures & charts from the report, "Automotive Composites Market Industry Size By Fiber (Glass, Carbon, Natural), By Resin (Thermoset, Thermoplastic), By Manufacturing Process (Compression, Injection, Resin Transfer Moulding (RTM)), By Application (Interior, Exterior, Structural) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, Poland, Spain, China, India, Japan, South Korea, Australia, Taiwan, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 ? 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-composites-market

Table of Contents (ToC) of the report:
Chapter 6.     Automotive Composites Market, By Manufacturing Process
6.1. Global industry share by manufacturing process, 2016 & 2024
6.2. Compression molding
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by region, 2013-2024
6.3. Injection molding
6.3.1. Market estimates and forecast, 2013-2024
6.3.2. Market estimates and forecast, by region, 2013-2024
6.4. RTM
6.4.1. Market estimates and forecast, 2013-2024
6.4.2. Market estimates and forecast, by region, 2013-2024
6.5. Others
6.5.1. Market estimates and forecast, 2013-2024
6.5.2. Market estimates and forecast, by region, 2013-2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/automotive-composites-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales(at)gminsights(dot)com
Web: https://www.gminsights.com
Blog: http://solutionrocket.com/

 

SOURCE GLOBAL MARKET INSIGHTS, INC


These press releases may also interest you

at 21:00
OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today published a report titled 'Unlocking the Infinite Potential of Crypto and AI.' The report explores the convergence of AI and crypto, a major trend in...

at 20:50
Pharma (1167.HK), a clinical-stage oncology company drugging the undruggable targets, today announced its 2023 annual results. The revenue was RMB63.5 million, the R&D investment was RMB372 million, the cash and cash equivalent at the end of 2023 was...

at 20:45
The "Austria Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2024 Update" report has been added...

at 20:40
Osisko Development Corp. ("Osisko Development" or the "Company") reports its financial and operating results for the three and twelve months ended December 31, 2023 ("Q4 2023"). Q4 2023 HIGHLIGHTS Operating, Financial and Corporate Updates: 2,090...

at 20:39
TSX VENTURE COMPANIES BULLETIN V2024-0926 VALLEYVIEW RESOURCES LTD. ("VVR")BULLETIN TYPE:  Resume TradingBULLETIN DATE: March 28, 2024TSX Venture Tier 2 Company Reference is made to our bulletin dated March 26, 2024 with respect to the listing of the...

at 20:30
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Sonder Holdings Inc. resulting from allegations that Sonder may have issued materially misleading business...



News published on and distributed by: